By Tahir Haneef/DTNN tahir@dt.bh. B NP Paribas will not close any of its branches in Bahrain or in other Middle East countries and a few more roles from its Dubai operations will be merged with its Bahrain office. Bahrain will remain as the headquarters of the bank's Middle East operations and there are no plans
BNP Paribas will not close any of its branches in Bahrain or in other Middle East countries and a few more roles from its Dubai operations will be merged with its Bahrain office. Bahrain will remain as the headquarters of the bank’s Middle East operations and there are no plans to reduce its focus in the region.
It’s also learnt that the number of job losses in Bahrain will be much less than 120, as news reports suggested.
The report by arabianbusiness.com says that the bank is to close its Dubai office and cut almost 40 per cent of employees at its Middle East headquarters in Bahrain by June, as part of a huge restructuring. Manama headquarters houses 320 employees of the bank.
Sources confirmed that as part of the global restructuring, a number of roles in the Middle East and Europe might be merged and redundant roles will be terminated.
But, no branches across the Middle East will be shut down or any customer operations will be disrupted.
In Dubai, a facility, which served a supporting role will become redundant as its operations will be merged with the bank’s European centres.
